Ulster Bank warns customers over phone fraud 'phishing'

Ulster Bank has warned customers to be vigilant for "phishing" fraudsters seeking their account details.

The warning comes after an Ulster Bank customer was contacted by someone calling from an English number seeking their personal details. The customer challenged the validity of the caller when it became apparent that they were not from Ulster Bank and subsequently hung up.

A spokeswoman for Ulster Bank said customers were routinely reminded that that the bank would never call or email them seeking their personal details.

"Whatever the situation, if you don't know, or have any doubts about who you are speaking to, don't give them any information and contact your service provider using an independently obtained telephone number," she said.

Ahern departs Parker Green

Former taoiseach Bertie Ahern has retired from the international advisory board of Parker Green International, the Newry-based property development company founded by Gerard O'Hare , according to a statement by the company earlier this month. Ahern gave up his position as vice chairman on 1 October, according to the statement. He was replaced by Lord Des Browne, a former Labour MP and member of cabinet who represented Kilmarnock. Ahern joined the advisory group in September 2008 to help add clout to the company's expansion into international property development and investment, especially in eastern and central Europe.

Bernanke defends US policy, slams China forex policy

Fed chairman Ben Bernanke defended his monetary stimulus last week, saying it will aid the world economy, and strongly criticised China's weak-currency policy.

The best way to support global recovery, he said, was "through policies that lead to a resumption of robust growth in a context of price stability in the US." Countries, such as China, that undervalue their currencies may inhibit growth and risk financial instability, he said.

Bernanke was confronting criticism from China and Brazil that his decision to buy $600bn in Treasury securities weakened the dollar and contributed to flows of capital to emerging markets.

Pimco taps market for €1bn to buy more depressed loans

Pimco, manager of the world's largest mutual fund, is raising at least $1bn for a private fund to buy troubled loans from banks divesting assets to meet new regulations.

The Pimco Bravo fund will acquire commercial and residential mortgage loans and other debt, according to a prospective investor. Pimco plans to work with a loan servicer to renegotiate the terms of the acquired debt directly with creditors, the client said.

The California firm, best known for funds run by Bill Gross, has raised at least $5bn to buy distressed mortgages and bonds backed by real estate loans since the credit crisis.